Operator
Good morning, and welcome to MTY Food Group 2025 Fourth Quarter and Year-End Results Earnings Conference Call.
[Operator Instructions]
Listeners are reminded that portions of today’s discussion may contain forward-looking statements that reflect current views with respect to future events. Any such statements are subject to risks and uncertainties. that could cause actual results to differ materially from those projected in forward-looking statements.
For more information on MTY Food Group’s risks and uncertainties related to these forward-looking statements, please refer to the company’s annual information form dated February 19, 2026, which is posted on SEDAR+. The company’s press release, MD&A and financial statements were issued earlier this morning and are available on its website and on SEDAR+. All figures presented on today’s call are in Canadian dollars, unless otherwise stated.
This morning’s call is being recorded on Thursday, February 19, 2026, at 8:30 a.m. Eastern Time.
I would now like to turn the call over to Mr. Eric Lefebvre, Chief Executive Officer of MTY Food Group. Please go ahead, sir.
Eric Lefebvre
CEO, President & Non-Independent Director
Thank you, and good morning, everyone. This morning, we released our 2025 Q4 and fiscal year-end results, which you can find posted on our website. While macro conditions remain challenging throughout 2025, Q4 showed continued strengthening in many of our core metrics. We are encouraged by the acceleration in positive net unit growth, deepening of our development pipeline, robust free cash flow generation and lower leverage, which
